Crypto / Web3 Due Diligence › Metrics › Pre-Seed
Key Metrics for Crypto / Web3 Startups at Pre-Seed Stage: Investor Benchmarks
These 4 metrics are what institutional investors evaluate when screening Crypto / Web3 startups at the Pre-Seed stage. Each metric is accompanied by benchmark ranges sourced from our database of 2+ comparable company analyses.
Pre-Seed Stage Traction Expectation: Pre-revenue acceptable. Early customers, LOIs, or clear path to first $1K MRR most competitive.
Metrics Expected at Pre-Seed: Customer interviews (10+), Pilot LOIs, Waitlist size, Early MRR (optional at this stage)
Metrics Expected at Pre-Seed: Customer interviews (10+), Pilot LOIs, Waitlist size, Early MRR (optional at this stage)
01. Total Value Locked (TVL) — DeFi
Seed: $1M+ TVL | Protocol maturity: $100M+ TVL
Measures capital committed to the protocol
Pre-Seed context: At Pre-Seed stage ($250K–$2M), this metric is the primary evaluation criterion. Pre-revenue acceptable. Early customers, LOIs, or clear path to first $1K MRR most competitive.
02. Daily Active Addresses (DAA)
User-facing apps: 1,000+ DAA at Seed
On-chain activity is publicly verifiable
Pre-Seed context: At Pre-Seed stage ($250K–$2M), this metric is the primary evaluation criterion. Pre-revenue acceptable. Early customers, LOIs, or clear path to first $1K MRR most competitive.
03. Revenue / Protocol Fees
Self-sustaining protocols generate fees; verify accrual mechanism
Fee revenue distinguishes protocols from speculative assets
Pre-Seed context: At Pre-Seed stage ($250K–$2M), this metric is a secondary signal. Pre-revenue acceptable. Early customers, LOIs, or clear path to first $1K MRR most competitive.
04. Token Distribution
Community allocation >40% | Team/investors <30%
Centralized token holdings create price risk and regulatory exposure
Pre-Seed context: At Pre-Seed stage ($250K–$2M), this metric is a secondary signal. Pre-revenue acceptable. Early customers, LOIs, or clear path to first $1K MRR most competitive.
How DDR Benchmarks These Metrics
When you upload a Crypto / Web3 startup pitch deck, DDR automatically:
- Extracts all Crypto / Web3 metrics from every slide of the pitch deck
- Benchmarks each metric against 2 comparable Crypto / Web3 companies
- Flags metrics outside healthy ranges as red flags with severity weighting
- Provides an overall verdict (INVEST / DIG DEEPER / PASS) with score 1–10
- Generates expected return scenarios based on Crypto / Web3 exit data
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